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Dong goes solo off Netherlands

Danes buy partner SSE's 50% share in three projects

Dong goes solo off Netherlands image

Dong Energy has taken full ownership of three offshore wind farms in Dutch waters after buying the 50% interest of joint venture partner SSE.

The Den Helder 1, Breeveertien 2 and West-Rijn projects have a total consented capacity of up to 1050MW and could be built by the end of this decade, pending introduction of the right market supports.

The purchase price consists of an upfront payment of approximately €2.3m and additional deferred payments “subject to the achievement of certain milestones such as a decision to construct the wind farms”, the company said.

The total additional deferred payments amount to up to €12m.

“The Dutch offshore wind market has great potential and with these three development projects Dong Energy is looking forward to contributing to the achievement of the announced Dutch target of 4450MW of offshore wind installed and operational by 2023,” said Dong Energy Wind Power executive vice president Samuel Leupold.

“The three development projects could potentially be built with next-generation technology and contribute to the further development of the supply chain in the Netherlands.

“However, it is vital that there is full visibility about the investment conditions in due course if we are to subsequently make a final investment decision to build the projects as part of our 2020 strategy.”

Dong Energy has a target to construct 6.5GW by the end of 2020.

Image: Dong's Burbo offshore wind farm (Dong Energy)

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